EPRINC Report Shows That IEA Net Zero Roadmap Is a Green Mirage
News Analysis
Two years ago, efforts by climate activists and Environmental, Social, and Governance (ESG) investors to block investment in oil and gas production by Western companies appeared to have received a seal of approval from no less an authority than the International Energy Agency (IEA), when it published “Net Zero by 2050: A Roadmap for the Global Energy Sector.” As a result, attempts to achieve net zero carbon emissions (NZE) by 2050 became central to the “E” in ESG and the IEA’s net zero roadmap has come to define the NZE baseline for energy companies.
For this reason, the RealClear Foundation asked the Energy Policy Research Foundation, Inc. (EPRINC) to conduct a forensic analysis of the IEA’s major reports on net zero and assess the likely economic impact of a cessation of investment in new oil and gas fields. EPRINC’s analysis conclusively demonstrates that the IEA’s assumptions are unrealistic, internally inconsistent, and often support the case for increased hydrocarbon fuel production. In reality, the IEA’s net zero roadmap is a green mirage that will dramatically increase energy costs, devastate Western economies, and increase human suffering. As such, investment managers and banks that use other people’s money to advance this anti-investment agenda are violating their fiduciary obligation to maximize returns for retirees, investors, and shareholders….